Member Info for LONGWAIT

You mean, Not2sure, that having decided to hold on at 50, 40, 30, 20, and 10, they think it's a good idea to sell now, and that any bid for Tendrara would be at less than 7?

The price is obviously being manipulated.

Someone sold 120,000 shares a few minutes ago.

Why sell at such a low price at a loss?

Your post looks remarkably similar to mine at 20:41 yesterday.

I think it would be a lot easier for JP to 'sell' a 50p sale price than a 30p one.

Certainly, anyone who has been averaging down recently should have an average of less than 50p and at least it's half of the all-time high.

Well, Woodrow, if they receive an offer of 50p per share, they will know that if they put that to the shareholders (assuming dealings have not been suspended) then the share price will soar, whereas the alternative could be a fall to 4 p.

That's why I think they would recommend it, but they certainly won't be aiming that low and we can only guess what will be offered.

My recollection is that JP originally said that 1 TCF of gas in place was worth about 150 p per share to SOU, but that another director later gave a much lower figure - maybe about 70 p, in line with the valuation of TE-5.

I'm interested to know what you think of the questioning of the reliability of the seismic data.

If it's reliable, we should have a minimum of 7 TCF, but if it's unreliable, then who knows?

I agree with you that the fun is finally about to begin.

I can understand Non-Oily Olly's loss of patience with a share price that seems to be bound by a rule that it is not permitted to stay above 60 p, but this cannot continue indefinitely.

It seems that posters are split into two camps: those who believe that Tendrara will be sold for at least 25 p per share (some think 100 p, but most much less) and those who think it is worthless or, at any rate, that no one will buy it until SOU goes into administration, and even then for next-to-nothing.

This argument is not going to go on forever.

We should know within months which direction the company is going in.

So, the question is: if the doomsters are so confident that they are right, why are they bombarding this forum with derisive posts, rather than just sitting back, waiting for the confirmatory RNS that there will be no sale, and quietly declaring that they have been proven correct?

'Over 20 Tcf out there and we have already unlocked TE-5.'

You are, presumably, basing your 20 TCF figure on the 'mean case' seismic figure of 19 TCG, Ogrod.

Several posters have questioned the reliability of that seismic data, citing the successive drill failures as confirmation that the data is wrong.

The big question is: how will a prospective buyer view the data?

I agree with you, Mike CC.

Most people seem to have gone from one extreme - dismissing JP's ridiculously-high predictions of up to 1000 p per share - to the other - valuing TE-5 at zero.

I mentioned Sidi Moktar last night, where there has already been a small discovery.

Is that also valued at zero?

We understand, Chavez.

Don't take it personally.

There is the possibility of further payments: Tendrara is not SOU's only asset.

'This is NOT an exciting share.'

I agree.

I think it may not get to be an exciting share until someone bids for its assets.

They won't make any profit by making a derisory offer because it will be rejected.

'some of you may even be #pleasantlysurprised.'

People who sold at about 10 p may be unpleasantly surprised.

RNS (in response to Chesh's request)

Sound Energy is unaware of any cause of the collapse of the share price other than cock-ups too numerous to mention and the directors' by-now well-known Reverse Gherkin Touch.

I hope this mock RNS will help conspiracy theorists realise that I myself am not a 'shameless ramper,' but an underwater investor who is simply stating known facts, e.g. TE-5 has been independently valued at about 25 p per share and, therefore, the many posters who have estimated the final price at 0-10 p are not being realistic.

'It's listening to shameless rampers that'll lose you your shirt on AIM, whether they're fellow BB posters or shyster CEOs. Sadly we have more than our fair share of both.'

I didn't realise till now that I am a CEO.

I hope I am being paid well.

I haven't noticed any salary being paid into my bank account, though.

You mean, SG, that you don't think the price fall is due to panic selling so much as shorting?

You've no right to accuse someone of lying when he is expressing an opinion.

I don't accuse posters of lying when they express opposite opinions.

Assuming that the total buys and sells are accurate, it looks as though many PIs are throwing in the towel because they think there must be something seriously wrong with the company for the price still to be falling.

If so, it's the self-fulfilling prophecy I was talking about.

'if there was anything there economically, the majors would have been all over this in the 1960s to 1980s or even 1990s.'

Are you saying Schlumberger were just pretending that they thought they would find gas there?